Reynolds Extends Deadline To Save Jupiter Theatre

Burt Reynolds has given the Jupiter Performing Arts Company a reprieve on its eviction from the Jupiter Theatre, extending the troupe's hope that a breakthrough might keep the playhouse alive.

"The deadline has been extended until Friday," theater operator Richard Akins said on Wednesday.

"All I can say now is that extremely delicate negotiations are going on, and we hope to be able to make an announcement Friday."

Last month, property owner Reynolds foreclosed on the company's lease-purchase agreement and filed for eviction.

Reynolds gave Akins a 10-day deadline to raise enough money to buy the theater. Akins was able to obtain a $1.3 million loan from First Union Bank, but needed to raise a matching amount in cash. He had come up with only $100,000 by Reynolds'deadline.

Speculation was rampant on Wednesday that a mystery donor had surfaced to cover the shortfall, but Akins would not comment on the matter.

The theater has had a cash-flow problem since a fire last year. Akins blamed the theater's insurance company for not providing the last $350,000 to pay for damages from the fire.

Reynolds also has financial problems, and the theater property is worth more than double the $2.6 million the arts company needs to keep it.

Akins was supposed to have cleared out the company's belongings by 5 p.m. Wednesday, but no packing had been done. If the latest negotiations don't produce a compromise, the building that Reynolds built in 1978 and once dubbed "the miracle at the truck stop" could be razed and replaced with offices.

Reynolds may be willing to accept a guarantee or transfer of the contract involving First Union and a third party. Any such interim deal would allow Akins to continue fund-raising through private donations and government grants.

Several grant applications are already pending. Further, the city, county and Palm Beach Arts Council all have expressed willingness to help the theater survive. But all need more time to consider any direct financial assistance. A guarantee or transfer would buy that time.

Lastly, the theater company would qualify for significantly more government assistance as the building's owner.

If some sort of agreement can be reached, Akins and Reynolds will be expected to make a joint announcement on Friday.